Better Late than Never? Bitcoin Segwit2x Scheduled for December 28th

Last week, the Segwit 2x team indicated in a CCN press release that they were planning to move forward with their proposed hard fork in the coming weeks. Now, Segwit 2x lead developer Jaap Terlouw has confirmed on the project’s website that the team will finally execute the fork on December 28th.

Originally scheduled for November, the development team cancelled the fork amidst controversy and schisms in the community. In an official statement, the team recognized that they had “notbuilt sufficient consensus for a clean blocksize upgrade at this time,” foregoing the fork in an effort to “[keep] the community together.”

The project’s updated roadmap now lists December 28th as the set date for the fork, and in his recent announcement, Terlouw confirmed these developments:

“Our team will carry out the Bitcoin hard fork, which was planned for mid-November,”

Arguing that “[c]ommission and transaction speed within the Bitcoin network has reached extraordinary values,” Terlouw believes that “[i]t is almost impossible to use it as a means of payment.”

In hopes of fixing these issues, the Segwit 2x fork will reduce block times to 2.5 minutes and increase block size to 4MB.

‘Tis the Season to be Forking

Bitcoin already forked four times this year, giving us Bitcoin Cash in August, Bitcoin Gold in November, and Bitcoin Diamond and Super Bitcoin in December. All of these currencies marched into the scene with their own scalability, privacy, and mining centralization solutions.

Unlike these unconfirmed forks, however, it seems certain now that Segwit 2x will join the forked fold. For months, only “trading of [2x] futures has been carried out on some exchanges,” according to Terlouw, the most notable being HitBTC. Including HitBTC, Binance, GDax, and BTCC have confirmed their support of the fork.

Come forking day, Jaap Terlouw promises “that all BTC holders will receive not only B2X in the ratio of 1 to 1, but also a proportional number of Satoshi Nakamoto`s Bitcoins as a reward for their commitment to progress.”

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